Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jim, Michael, Kevin, and Meredith own and operate a route of gas station video poker machines as partners.A bill is enacted into law in North

Jim, Michael, Kevin, and Meredith own and operate a route of gas station video poker machines as partners.A bill is enacted into law in North Carolina making video poker illegal.All of the partnership's video poker machines are located in North Carolina.What happens to their partnership?

a. It dissolves by act of court.

b. It dissolves by act of partner(s).

c. Nothing.

d. It dissolves by operation of law.

Equity financing is typically cheaper than debt financing.

True

False

  1. The owners of an LLC are known as:
  2. a. Members.
  3. b. Shareholders.
  4. c. Partners.
  5. d. S-shareholders.

In addition to the articles of incorporation, the other governing document for a corporation is the:

a. Corporation agreement.

b. Operating agreement.

c. Board of directors.

d.Bylaws.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Researching The Law Finding What You Need When You Need It

Authors: Amy E. Sloan

3rd Edition

1543813364, 978-1543813364

More Books

Students also viewed these Law questions

Question

Is it tenure-track, tenured, or something other designation?

Answered: 1 week ago

Question

13. Give four examples of psychological Maginot lines.

Answered: 1 week ago